Türkiye Secures €2.4 Billion Green Financing for Railway to Azerbaijan's Nakhchivan

Türkiye has secured approximately 2.4 billion euros in international green financing for the Kars-Iğdır-Aralık-Dilucu railway project, which will establish a direct rail connection to Azerbaijan’s Nakhchivan Autonomous Republic, enhancing regional trade and connectivity. The funding package, led by Japan’s MUFG Bank and backed by Sweden’s EKN, Austria’s OeKB export credit agencies, and the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), underscores international confidence in Türkiye’s economic program. This sustainable infrastructure project aims to reduce logistics costs, increase trade volume, and deepen economic integration, while supporting Türkiye’s broader infrastructure strategy and green transition goals. The railway will strengthen Türkiye’s connectivity to the Caucasus and Central Asia, potentially paving the way for further regional projects such as the Zangezur Corridor. The initiative aligns with Türkiye’s Medium-Term Program goal of activating public infrastructure investments to boost competitiveness and productivity. Türkiye has raised nearly $6 billion in external funding for infrastructure projects so far in 2025, reflecting robust international cooperation and financing support.